Guideline Value for Kottabomman Street

Kottabomman Street guideline value

The current guideline value of Kottabomman Street is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village, under the Pallavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Kottabomman Street has changed

The guideline value for Kottabomman Street has seen significant changes over the years. In the 2003 revision, the value was Rs 554 per sq.ft, which increased to Rs 1,200 per sq.ft in 2007, marking a rise of 117%. The value then surged to Rs 3,200 per sq.ft in 2012, reflecting a remarkable increase of 167%. However, in the 2017 revision, the value dropped to Rs 2,144 per sq.ft, a decrease of 33%. The value rose again to Rs 3,200 per sq.ft in the 2023 revision, and currently stands at Rs 3,520 per sq.ft in the 2024 revision, showing a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 535%. It is important to note that there is no figure available for Kottabomman Street in the 2002 revision.

Guideline values in Zaminpallavaram

Zaminpallavaram has a total of 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value in this village is Rs 3,300 per sq.ft, placing Kottabomman Street's 2024 figure above this median.

• Kottabomman Cross Street: Rs 2,160 per sq.ft (2024)
• Kothandam Nagar 1 To 5 Streets: Rs 3,520 per sq.ft (2024)
• Kovalan 2nd Street: Rs 2,160 per sq.ft (2024)
• Kovalan Street: Rs 2,750 per sq.ft (2024)
• Kollanchavadi: Rs 2,750 per sq.ft (2024)
• Kolappan Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kottabomman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total to Rs 3,16,800. It's important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kottabomman Street?

The Sub Registrar Office that covers Kottabomman Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Zaminpallavaram

The guideline value is a crucial factor in the registration process when buying or selling property in Zaminpallavaram. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value helps ensure that the transaction is documented at a fair value, reflecting the current market conditions in the area. This process is essential for maintaining transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Kottabomman Street?

The current guideline value of Kottabomman Street is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 554 per sq.ft in 2003 to Rs 3,520 per sq.ft in 2024, marking an overall increase of 535% over the years.

What is the median guideline value in Zaminpallavaram?

The median guideline value in Zaminpallavaram is Rs 3,300 per sq.ft, with Kottabomman Street's 2024 figure being above this median.

What are the stamp duty and registration fees for property in Kottabomman Street?

The total stamp duty for a property valued at Rs 35,20,000 would be Rs 2,46,400, and the registration fee would be Rs 70,400, totaling Rs 3,16,800.

Which office handles property registrations for Kottabomman Street?

The Pallavaram Sub Registrar Office handles property registrations for Kottabomman Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.